indie Semiconductor, Inc. (NASDAQ:INDI) Receives Consensus Rating of “Buy” from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have received an average rating of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.07.

INDI has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Roth Mkm cut their price target on shares of indie Semiconductor from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reduced their price objective on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday.

indie Semiconductor Trading Down 1.7 %

Shares of INDI stock opened at $3.43 on Friday. The stock’s 50-day moving average price is $3.67 and its 200-day moving average price is $5.14. indie Semiconductor has a 12-month low of $3.16 and a 12-month high of $8.69. The stock has a market capitalization of $677.14 million, a price-to-earnings ratio of -6.73 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.20 and a debt-to-equity ratio of 0.31.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The company had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $53.61 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. indie Semiconductor’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts predict that indie Semiconductor will post -0.7 EPS for the current fiscal year.

Insider Transactions at indie Semiconductor

In related news, CFO Thomas Schiller sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total value of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently modified their holdings of INDI. ProShare Advisors LLC increased its holdings in indie Semiconductor by 8.5% during the first quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after buying an additional 2,131 shares during the period. Principal Financial Group Inc. lifted its stake in shares of indie Semiconductor by 15.3% during the 1st quarter. Principal Financial Group Inc. now owns 20,162 shares of the company’s stock worth $143,000 after purchasing an additional 2,674 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after purchasing an additional 3,906 shares during the last quarter. Quent Capital LLC boosted its position in indie Semiconductor by 66.7% during the first quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $71,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Wealth Effects LLC grew its stake in indie Semiconductor by 2.8% in the second quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.